Atlas Real Estate and DivcoWest Form $1 Billion Joint Venture to Acquire and Renovate Single-Family Rental (SFR) Homes
The JV will acquire, renovate, and manage single-family rental (SFR) homes, marking DivcoWest's entrance into the SFR investment market
DENVER, April 27, 2021 /PRNewswire/ -- Atlas Real Estate, a full-service real estate company specializing in investment brokerage, property management and institutional acquisition, today announced that it has entered into a joint venture (JV) partnership with San Francisco-based DivcoWest to invest $250 million of equity in single-family homes as rentals throughout the Western United States. The JV expects to deploy $1 billion acquiring and renovating homes in high-growth states, including Colorado, Arizona, Idaho, Nevada and Utah, where Atlas currently manages more than 4,200 units.
"DivcoWest's partnership with Atlas is a testament to our decade plus history as an acquisition partner and the long-standing relationships we have cultivated with institutional investors since our inception," explains Ryan Boykin, co-founder of Atlas Real Estate. "The start of this new joint venture also points to the strength of the SFR housing sector and to the full-service real estate investment platform Atlas has created."
"The new partnership between Atlas and DivcoWest enables us to live up to our mission as a company: 'To Uplift Humanity Through Real Estate,'" says Tony Julianelle, CEO of Atlas Real Estate. "The joint venture will function to increase the inventory of single-family rentals in Atlas-managed markets, presenting a tangible opportunity to serve people and create a positive resident experience while helping meet the supply demands by providing high quality housing."
Since its inception in 2013, Atlas Real Estate has been recognized as a leader in the real estate industry. The Denver Business Journal named Atlas as a Fast 50 Honoree, Bank of America selected Atlas as one of its Colorado Companies to Watch, and ColoradoBiz Magazine has honored the firm with the Best of Colorado: Property Management award for the past four consecutive years.
About Atlas Real Estate
Atlas Real Estate is a full-service real estate company specializing in investment services, property management and institutional acquisitions. A buy/sell brokerage, Atlas is also a Zillow Offers Partner Agent. Since its inception in 2013, Denver-based Atlas Real Estate has made a commitment to Uplift Humanity Through Real Estate. With offices in eight markets nationwide, Atlas transacts over $1 billion in real estate annually and manages more than 4,200 residential units. Atlas has been recognized by leading media outlets as a one of the Best Places to Work in Denver, the Best Property Management Company and a Top Company in Real Estate. To learn more about Atlas, visit www.realatlas.com.
About DivcoWest
Founded in 1993, DivcoWest is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Los Angeles, Menlo Park, Boston, Washington DC and New York City. Known for long-standing relationships and experience across the risk-spectrum in markets where innovation thrives, DivcoWest combines entrepreneurial spirit with an institutional approach to deliver real estate solutions and opportunities to the world's most forward-thinking companies and investors. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 48 million square feet of commercial space - primarily throughout the United States. DivcoWest's real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail and multifamily spaces. www.divcowest.com
Media Contact: Victoria Evans, [email protected]
SOURCE Atlas Real Estate
